Newsflash: Relo company wants to use their own in-house title company. Is that OK?

Greetings Reddit.​My wife and I just had an offer accepted on a house. After making the offer, we found out we are buying from a relocation company and not from the homeowner. Our only real concern about this is that the company wants to use their own, in-house title company. We’re concerned about the idea of having our title company and seller be, essentially, the same entity.​To give some context for our concern, we were supposed to close on a house two weeks ago, but some weird stuff happened with heirs. The seller didn’t reveal that his wife (who was listed as the sole owner on the deed) was deceased until the title company asked for her to come sign some papers. Then the seller claimed his wife had children from a previous marriage that he had never known about, and when the title company tried to get him to go through the normal process of establishing heirship (the wife died without a will), the seller tried to do an end around and just pay out the heirs directly (and presumably less than they were entitled to) without going through the necessary legal steps. If the title company had been affiliated with the seller in that case, we might be holding the deed to a house that doesn’t have a clean title right now, so we’re really reluctant to not have an independent title company involved in all this.​Is this normal though? Do relocation companies usually handle the title themselves? What assurances do we have that their guarantee of a clean title isn’t motivated by their desire to close the sale? Should we be worried, or is this all above board?​Thanks in advance for any help.

Read more at https://www.reddit.com/r/RealEstate/comments/avvf56/relo_company_wants_to_use_their_own_inhouse_title/?utm_source=ifttt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s